Livforsakringsbolaget Skandia Omsesidigt Boosts Holdings in Deere & Company (NYSE:DE)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Deere & Company (NYSE:DE) by 71.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586 shares of the industrial products company’s stock after purchasing an additional 244 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Deere & Company were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Briaud Financial Planning Inc acquired a new position in Deere & Company in the third quarter valued at approximately $25,000. Retirement Group LLC lifted its holdings in Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 45 shares during the period. ZRC Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the fourth quarter valued at approximately $28,000. Finally, Worth Asset Management LLC acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $28,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $1.98 during trading on Thursday, reaching $398.86. The company’s stock had a trading volume of 105,289 shares, compared to its average volume of 1,481,019. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a market capitalization of $111.03 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The business has a 50 day moving average price of $385.17 and a 200-day moving average price of $382.66.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the previous year, the firm posted $6.55 earnings per share. Deere & Company’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Stifel Nicolaus reduced their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.